Singapore’s SBI Digital Markets (SBI DM) has expanded its trials as part of the Project Guardian tokenization project. To ensure maximum distribution and liquidity, it is planning to issue tokenized asset backed securities (ABS) in both conventional and tokenized formats. We’ve reported on some of its cross border collaborations in which it has connected to regulated digital asset exchanges in other jurisdictions to maximize international liquidity.
In the next two months it plans to launch its first ABS, a structure noted backed by luxury wines. Subsequently, it’s planning ABS issuances based on intellectual property and commodities.
Apart from the ABS, SBI DM also participated in the latest UBS money market fund (MMF) pilot. Last week UBS Asset Management announced the fund will go into production. However, as part of the latest pilot, it automated many of the functions of the tokenized money market fund, including subscription and redemption. SBI Digital Markets created a transfer agent smart contract to support fund transfers between different blockchains, using Chainlink’s Cross-Chain Interoperability Protocol (CCIP).
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